Dubai International Capital, the private equity arm of Dubai Holding, on Monday announced that it has completed the sale of Mauser Group to New York-based private equity firm Clayton, Dubilier & Rice for around $1.7 billion.
David Smoot, chief executive officer of DIC, said: “We are extremely pleased with the outcome of the Mauser sale. This transaction demonstrated DIC’s ability to improve and grow the companies it has invested in to ultimately achieve an attractive value at the point of exit. We are now focused on continuing to enhance the value of our remaining portfolio as we prepare the companies for an eventual exit.”
Mauser is a leading producer of rigid industrial packaging and has approximately 4,400 employees and revenues of over $1.6 billion. Founded in 1896, it is headquartered in Bruehl near Cologne in Germany.
It was originally acquired by DIC in 2007 in a deal that valued it at around $1.1 billion.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.